Buying your first home is a significant milestone, and it can also be a substantial mental load.
If you’ve been saving for a while, browsing property listings late at night or just beginning to map out your path to homeownership, you’ve probably experienced some of the most common challenges first-home buyers face. It might feel like information is coming at you from all directions. You may be second-guessing your decisions, unsure about where to buy or worried about making a costly mistake.
You are not alone in feeling like this, recent research shows that more than 60% of first-home buyers experience challenges at some point in their journey. The combination of a competitive market, rising property prices and uncertainty around borrowing capacity or government schemes often leads to hesitation or delays that can stretch on for months, or even years.
At Moove Buyers Agents, we work with first-time buyers every day to cut through the stress and create a clear, confident plan forward from strategy to settlement.
In this guide, we’ll break down the biggest mistakes first home buyers make, how to avoid them and what you really need to know to get moving with confidence.
1. Skipping Budget Clarity
Most buyers begin by browsing homes. However, the problem is that without knowing exactly what you can afford, you are making decisions based on guesses rather than a clear strategy.
Why it matters:
- You could waste months looking at homes that don’t match your true borrowing power.
- You risk falling in love with a property you can’t afford (or missing one you can).
- You may be blindsided by unexpected rate rises or approval issues later on.
What to do instead:
Before you start shortlisting suburbs or scheduling inspections, take time to:
- Get pre-approval from a mortgage broker or lender.
- Understand how rate rises could affect your repayments.
- Know your maximum borrowing capacity and your comfortable monthly repayments.
Our Buyer’s Budget Guide can help you better understand what you can afford and how to plan for what’s ahead.
2. Having No Deposit Strategy
Saving a deposit is one of the biggest hurdles, but many first-home buyers wait longer than necessary simply because they’re unaware of all the options available.
Why it matters:
- Without a plan, it’s easy to delay buying for years.
- You might miss out on first-home buyer schemes that lower your deposit needs.
- You could save more efficiently with the right support.
What to do instead:
Saving a 20% deposit is great, but it’s not your only option.
Some buyers can enter the market sooner with:
- Lenders Mortgage Insurance (LMI): Allows buyers to purchase a property with a deposit as low as 5–10%.
- First Home Guarantee: A government scheme that helps eligible first-home buyers purchase a property without paying LMI.
- Guarantor Loans / Co-Buying: Allows buyers to purchase a property with the help of a guarantor or co-buyer, such as a family member or partner.
- Shared Equity Schemes: Programs that allow buyers to share ownership of a property with the government or another party; details vary by state.
Read our Deposit Guide to learn what’s possible sooner.
3. Choosing the Wrong Suburb for Your Lifestyle
Buyers often choose a suburb based on price alone or because someone said it was ‘the next hotspot’. But what’s affordable onpaper might not align with how you want to live.
Why it matters:
- Your first home should support your lifestyle and long-term goals.
- Buying in the wrong location can lead to dissatisfaction or selling too soon.
- Infrastructure, schools, transport and community all matter, not just price per square metre.
What to do instead:
At Moove, we don’t just find a property that fits your budget; we help you find a location that fits your life. We’ll match you with suburbs that offer:
- Realistic price points for your budget
- Lifestyle alignment (commute, green space, cafes, schools)
- Growth potential and resale value
Common Questions First-Home Buyers Ask
Do I qualify for any government grants or schemes?
Yes, it could save you thousands. Depending on your state and circumstances, you may be eligible for:
- First Home Owner Grant (FHOG)
- Stamp Duty Concessions
- First Home Guarantee
- Shared Equity Schemes
- Regional First Home Buyer Support Schemes
At Moove, we can help you navigate these government grants and include them in your buying strategy.
Is Moove’s service free for first-home buyers?
Your first strategy session is completely free.
We will guide you through your current position, your goals, and the options available to you. There is no pressure and no obligation. If you choose to work with us beyond this, we offer transparent, fixed-fee packages, which can be explored here.
Should I buy in my own name or in a trust?
This comes up a lot. For most first-home buyers, buying in your own name is the simplest and most beneficial approach, especially if you want to access government grants and concessions.
Trust structures are typically used for investors or more complex financial strategies. If you’re unsure, we’ll connect you with an accountant or legal advisor who can explain the pros and cons based on your goals.
Your Journey Ahead
Whether you’re ready to buy next month or just starting to plan, it helps to discuss it with someone who understands the process and has your back.
We’re here to help you move forward when you’re ready, with clarity and confidence.
Book your free 30-minute strategy session today and take the first step towards buying property with confidence.
